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    SBO - Will Holding of individual member along with PAC shall be clubbed with another body corporate?

    Posted By : Abhilash / Published on : 17-Jul-2019 06:57 AM / View : 483 / Comment : 0

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    Ankit Ltd. is a Reporting Company, where in AFSL Ltd is holding 18% shares in reporting company.

    now while checking the majority shareholding in AFSL Ltd. we found:-

    Individual Holding along with PAC (through relatives) is 35% only i.e below 51%

    but there is a Another company Prix ltd. holding 44% Shares in AFSL Ltd. (Note Prix Ltd is a group companies closely held by promoters of Ankit Ltd)

    should we consider Indivual +PAC + PRix Ltd. holding for considering majority holding in AFSL Ltd. for considering SBO?

    THROUGH THE PROVISION SAYS THAT INDIVIDUALS WHO ARE HOLDING MAJORITY SHALL BE SBO.
    Read more on : another body corporate clubbed shall individual member along holding

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